Parker-Hannifin (NYSE:PH) Rating Lowered to “Hold” at Stifel Nicolaus

Parker-Hannifin (NYSE:PH) was downgraded by Stifel Nicolaus from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Monday, Marketbeat reports. They presently have a $691.00 price objective on the industrial products company’s stock. Stifel Nicolaus’ price objective indicates a potential downside of 1.13% from the company’s previous close.

Other research analysts have also recently issued reports about the company. Robert W. Baird raised their price objective on Parker-Hannifin from $695.00 to $710.00 and gave the stock an “outperform” rating in a research note on Friday, November 1st. KeyCorp lifted their price target on Parker-Hannifin from $640.00 to $725.00 and gave the company an “overweight” rating in a research report on Monday, October 14th. Evercore ISI lifted their price target on Parker-Hannifin from $620.00 to $656.00 and gave the company an “outperform” rating in a research report on Monday, August 19th. Deutsche Bank Aktiengesellschaft lifted their price target on Parker-Hannifin from $595.00 to $645.00 and gave the company a “buy” rating in a research report on Friday, August 9th. Finally, Argus lifted their price target on Parker-Hannifin from $650.00 to $710.00 and gave the company a “buy” rating in a research report on Tuesday, November 5th. Three investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat, Parker-Hannifin currently has an average rating of “Moderate Buy” and an average target price of $688.07.

Parker-Hannifin Trading Up 0.2 %

Parker-Hannifin stock opened at $698.91 on Monday. The stock has a 50-day moving average of $636.19 and a two-hundred day moving average of $575.38. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.57 and a current ratio of 0.96. Parker-Hannifin has a one year low of $425.20 and a one year high of $711.60. The stock has a market cap of $89.96 billion, a PE ratio of 31.57, a price-to-earnings-growth ratio of 2.82 and a beta of 1.43.

Parker-Hannifin (NYSE:PH) last released its quarterly earnings results on Thursday, October 31st. The industrial products company reported $6.20 EPS for the quarter, beating analysts’ consensus estimates of $6.14 by $0.06. Parker-Hannifin had a return on equity of 27.95% and a net margin of 14.47%. The company had revenue of $4.90 billion during the quarter, compared to analysts’ expectations of $4.90 billion. During the same period last year, the business posted $5.96 earnings per share. The firm’s revenue was up 1.2% compared to the same quarter last year. On average, research analysts anticipate that Parker-Hannifin will post 26.77 EPS for the current fiscal year.

Insider Transactions at Parker-Hannifin

In other Parker-Hannifin news, VP Thomas C. Gentile sold 2,430 shares of the business’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $701.16, for a total transaction of $1,703,818.80. Following the transaction, the vice president now owns 5,465 shares of the company’s stock, valued at approximately $3,831,839.40. The trade was a 30.78 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, COO Andrew D. Ross sold 4,864 shares of the business’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $706.04, for a total value of $3,434,178.56. Following the transaction, the chief operating officer now directly owns 13,120 shares in the company, valued at $9,263,244.80. This trade represents a 27.05 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 18,927 shares of company stock valued at $12,807,811 over the last ninety days. Insiders own 0.39% of the company’s stock.

Institutional Investors Weigh In On Parker-Hannifin

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. State Street Corp raised its position in Parker-Hannifin by 13.8% in the third quarter. State Street Corp now owns 6,202,235 shares of the industrial products company’s stock valued at $3,918,696,000 after purchasing an additional 753,143 shares during the period. FMR LLC raised its position in Parker-Hannifin by 7.1% in the third quarter. FMR LLC now owns 4,116,257 shares of the industrial products company’s stock valued at $2,600,733,000 after purchasing an additional 272,531 shares during the period. Geode Capital Management LLC raised its position in Parker-Hannifin by 1.2% in the third quarter. Geode Capital Management LLC now owns 2,577,831 shares of the industrial products company’s stock valued at $1,623,689,000 after purchasing an additional 29,408 shares during the period. Wellington Management Group LLP raised its position in Parker-Hannifin by 39.9% in the third quarter. Wellington Management Group LLP now owns 1,977,849 shares of the industrial products company’s stock valued at $1,249,645,000 after purchasing an additional 564,365 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its position in Parker-Hannifin by 3.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,593,970 shares of the industrial products company’s stock valued at $1,007,102,000 after purchasing an additional 59,432 shares during the period. Hedge funds and other institutional investors own 82.44% of the company’s stock.

Parker-Hannifin Company Profile

Parker-Hannifin Corporation manufactures and sells motion and control technologies and systems for various mobile, industrial, and aerospace markets worldwide. The company operates through two segments: Diversified Industrial and Aerospace Systems. The Diversified Industrial segment offers sealing, shielding, thermal products and systems, adhesives, coatings, and noise vibration and harshness solutions; filters, systems, and diagnostics solutions to ensure purity and remove contaminants from fuel, air, oil, water, and other liquids and gases; connectors used in fluid and gas handling; and hydraulic, pneumatic, and electromechanical components and systems for builders and users of mobile and industrial machinery and equipment.